From borrowing 1 lakh to making a turnover of 50 Crore | Khanna Brothers | Polco India | Real Story
Polco’s Success
Story
Polco was founded in 2002 and is currently India's
leading maker of custom and specialized car protection covers. Polco developed,
flourished, and thrived as a worldwide player after being incorporated and
located in Mumbai.
About the founders - Khanna Brothers
Bhavesh and Rohit both graduated from Mumbai's HR College
of Commerce and Economics. Soon after, he began exploring business
opportunities. They had no longing to work in their father's dyeing and
printing business or look for a job.
Success Story of Khanna Brothers
Rather than going the easy route of joining their
father's business and enjoying a happy life, Bhavesh Khanna and Rohit Khanna of
Mumbai borrowed Rs 1 lakh from their father and established their business.
Striving and fighting tooth and nail, their hard work pays off! They build a
car and two-wheeler cover manufacturing unit with a turnover of Rs 50 crore.
What is the idea behind their business?
The brothers noticed that tarpaulin sheets were being
used as car covers in the country, but they caused scratches and were not
water-resistant. “We came up with the idea of making personalized car wraps
that were both high-quality and water-resistant. “There was no other firm in
India operating in-vehicle coverings, and the market was entirely unexplored,”
Bhavesh explains.
What is the business strategy behind their business?
“Back then, people used tarpaulin coverings to protect
their cars. It was tough to persuade customers to acquire a product made of
water-resistant material but cost about twice as much as tarpaulin covers.” They
then not only upgraded their product, but also switched their business approach
from B2C (business-to-consumer) to B2B (business-to-business) and began selling
the covers directly to car manufacturers.
Current market size, "Then and Now".
Initially producing 40 vehicle covers each day, the firm
has expanded tremendously and now makes 3,500 pieces every day. In the fiscal
year 2002-03, they gradually increased their turnover to Rs 25 lakh. Wow! Isn't
it?
The customer base of the business?
Mercedes (in Pune) became their first customer in 2003.
Leading automobile companies such as Honda, Hyundai, Ford, and Maruti
subsequently became their customers.
Steps towards growth
In 2005, they teamed up with DuPont, an American
corporation, and purchased Tyvek, synthetic material from them. “We launched
Tyvek automobile covers for the first time in India,” adds Bhavesh. “Tyvek is
an eco-friendly product. It is water-resistant and even shields the automobile
from damaging UV rays.”
The business also expanded into the production of
two-wheeler covers, forming partnerships with manufacturers such as Honda,
Royal Enfield, and Yamaha.
Polco's future goals
“In the last four years, we have added more varieties
such as auto-rickshaws and bike cover. We are also looking at exporting our
items to European countries,” Rohit says.
Message from the brothers to aspiring entrepreneurs:
We faced a lot of discouragement during the initial days
about our product but we never gave up and kept ongoing. Our hard work finally
paid off. Never give up on your dream and continue to pursue it till you
succeed.
Words of Wisdom from The Self Story
What truly is success? There are a
lot of definitions, but one thing all the greats believe in: Success comes
solely through perseverance in the face of failure. We often believe that
success is a straight, unobstructed road to the top. However, this is far from reality.
In reality, the road to success is typically paved with countless obstacles.
“Take up one idea. Make that one idea your
life–think of it, dream of it, live on that idea. Let the brain, muscles,
nerves, every part of your body, be full of that idea, and just leave every
other idea alone. This is the way to success.” —Swami Vivekananda
